Phenomenex CEO Announces $12 Million in Bonuses Following Sale
Phenomenex’s CEO Fasha Mahjoor has announced $12 million in bonuses for the company’s staff following the sale of Phenomenex Inc. to Danaher Corporation in October 2016.
Phenomenex’s CEO Fasha Mahjoor has announced $12 million in bonuses for the company’s staff following the sale of Phenomenex Inc. to Danaher Corporation in October 2016.
Chief Executive Fasha Mahjoor, who owns 90% of Phenomenex and founded the company in 1982, will continue on as President following the sale, which some reports have estimated to be in the $700 million region.
Mahjoor discussed the sale of his company in October stating, “Joining Danaher will allow us to maintain the high pace of innovation that our customers and international distributors have come to expect from us. This is our opportunity to further expand our R&D activities, benefit our customers with a more diversified product portfolio, and reinforce our market leadership.”
Approximately 95% of Phenomenex’s 800-strong workforce are likely to benefit from this announcement, although exact payouts are to be determined on service. The deal also maintains Phenomenex as a standalone company, while simultaneously increasing links with Sciex, another Danaher-owned chromatography business that Phenomenex collaborate with regularly.
“We are thrilled to have Phenomenex join Danaher’s life sciences portfolio of businesses, which includes Sciex, Beckman Coulter Life Sciences, Pall, Leica Microsystems, and Molecular Devices,” said Dan Daniel, Executive Vice President of Danaher Corporation.
“Phenomenex is a strong business characterized by high growth rates and margins, and excellent growth prospects driven by increasing analytical testing needs in the health, research, and environmental segments,” continued Daniel.
“We look forward to supporting the Phenomenex team and welcoming them to our Life Sciences team.”
For more information please visit: www.phenomenex.com or www.danaher.com
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